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Dec 23, 2012
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my views will never fix the deficit soccer in the dirt. [applause] so therefore you shouldn't take my word for it. you should take the word for the people who are experts on the economy. and here's our product. you are the first to see it. so we published a book, "the 4% solution." jim is going to introduce many of the folks who are here who have written some of the chap verse. and then brendan miniter come in the very able editor at the bush summer will be conduct in the panel. if you please welcome jim glassman, founding executive director of the george w. bush institute and has led us nobly in her first 18 months of existence. for practice have you here. it's for coming. [applause] >> thank you, president bush. panelists may. president bush talk to you about what we are doing in africa. one of the waste to sum up what the bush institute does is advancing freedom. you can't be free if you're sick. he can't be free either if you live in a society ruled that the gators as the people of our brand or syria or cuba do. but the freedom collect
my views will never fix the deficit soccer in the dirt. [applause] so therefore you shouldn't take my word for it. you should take the word for the people who are experts on the economy. and here's our product. you are the first to see it. so we published a book, "the 4% solution." jim is going to introduce many of the folks who are here who have written some of the chap verse. and then brendan miniter come in the very able editor at the bush summer will be conduct in the panel. if...
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Dec 30, 2012
12/12
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having said that, it has become part of our deficit negotiation. i'm troubled by the notion that we're somehow going to give a tax break to some 6,000 very fortunate americans and incur a new expense for our federal government of some $130 billion or $140 billion in the process. what are we thinking? at a time whaoef to try to -- we have to try to bring together the resources to reduce our deficit, why would we want to give a new bonus break for the wealthiest people in this country when it comes to the estate tax. at that to me would be a step backwards. i hope we are not forced into any agreement that includes it, although i stand here knowing full well that if there is an ultimate compromise there will be parts of it i find disgusting and reprehensible which i may have to swallow in the name of following a compromise to avoid the fiscal cliff. that is the nature of a compromise. i hope that one isn't included but it may be. we have to do things important for this economy and one of the most important is to make sure we extend unemployment benefi
having said that, it has become part of our deficit negotiation. i'm troubled by the notion that we're somehow going to give a tax break to some 6,000 very fortunate americans and incur a new expense for our federal government of some $130 billion or $140 billion in the process. what are we thinking? at a time whaoef to try to -- we have to try to bring together the resources to reduce our deficit, why would we want to give a new bonus break for the wealthiest people in this country when it...
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Dec 29, 2012
12/12
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is in the white house, deficits don't matter. can you tell us a little bit about the philosophies of the two candidates? well now, the president and the ex-candidate. will the situation be that much different if there was a different man in the white house? guest: well, look, it's an interesting question. it is certainly true that tax policy was one of the key sort of issues in the last election. and actually, the debate that we're having if it sounds familiar, it's because we've had it several times before. it was really a similar debate to what we had in 2008. we had the same debate in 2010. we had a similar debate in 2011 when we were dealing with the debt ceiling issue the first time around. and we dealt it with it in the last election. and the differences have always been that president obama has maintained that tax cuts should be allowed to expire for people making more than $250,000. mitt romney called for extending all the tax cuts fully. and making other changes to the tax code. but, you know, i mean, he wouldn't be in o
is in the white house, deficits don't matter. can you tell us a little bit about the philosophies of the two candidates? well now, the president and the ex-candidate. will the situation be that much different if there was a different man in the white house? guest: well, look, it's an interesting question. it is certainly true that tax policy was one of the key sort of issues in the last election. and actually, the debate that we're having if it sounds familiar, it's because we've had it several...
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Dec 28, 2012
12/12
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so they didn't show as a deficit. a vendor ackley to the debt. so while the budgets were reasonable in that period of time, the actual spending didn't show in the budget and people didn't pay as much attention to the debt as they do today because it kept mounting and so we borrowed to pay for the war and in fact we didn't ask people to make sacrifices financially. >> there is a difference between borrowing in the future, paying for work and paying back words, we are having to pay right now. people might have felt differently if they had felt the pinch right at that time. we would have asked different questions and were asked, and i think that is one of the reasons we got where we are. and it's where we are. >> on appropriations could you have been any more vocal about it to provide us getting into this situation? >> welcome on was vocal about it. i don't know. when i got on the appropriations committee and became the chairman of the legislative branch all of the buildings, library of congress, congressional budget office, the cattle cars, office
so they didn't show as a deficit. a vendor ackley to the debt. so while the budgets were reasonable in that period of time, the actual spending didn't show in the budget and people didn't pay as much attention to the debt as they do today because it kept mounting and so we borrowed to pay for the war and in fact we didn't ask people to make sacrifices financially. >> there is a difference between borrowing in the future, paying for work and paying back words, we are having to pay right...
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Dec 29, 2012
12/12
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board, and my argument to that, i guess, the gentleman left, is that i don't think right now with the deficit that either my law firm or investment banks in wall street need the corporate tax cuts. target the corporate tax cuts to areas that are engines of economic growth, and so i'm sympathetic to tax incentives if they can be tied to accountability for companies to actually invest in other communities and create jobs. next question? >> talking about tax incentives, on the other side, won't it be okay to peoplize too many -- or, i guess that's not quite the right word, but to have, you know, to tax the import for that discourages imports and encourages the locals manufacturing? >> well, that's a big debate about how much protectionism we should have as a country. i mean, my view is that if the competition is there, i think americans can compete with any goods, and we should not be -- we should not discourage healthy competition. the problem is what happens if the competition is up fair. i talk about the story of solyndra, a political football. everybody says the department of energy gave sol
board, and my argument to that, i guess, the gentleman left, is that i don't think right now with the deficit that either my law firm or investment banks in wall street need the corporate tax cuts. target the corporate tax cuts to areas that are engines of economic growth, and so i'm sympathetic to tax incentives if they can be tied to accountability for companies to actually invest in other communities and create jobs. next question? >> talking about tax incentives, on the other side,...
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Dec 26, 2012
12/12
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some will argue we need for deficit reduction purposes. we need to load the about that outcome is spending on health care, so this is an important deficit reduction policy. but i would ask you, is the right of this group of people, 65- and 66-year olds, bearing the very large costs. is this the group you think should be bearing huge parts? i would argue this is not a particularly fair shared version of this group of people to be sharing 10% of their income in addition to growing health care cost. it's really not something that they can there. so for us this is a pretty simple equation. it doesn't make sense as a matter of health policy. it raises costs. it doesn't lower than. it increases the number of uninsured. it increases premiums for everybody else who remains in medicare because you have now taken younger people and healthier people out of medicare. .. >> i think we got that point. thank you, david. our final presentation is from paul dennett who is the senior vice president for health care reform in the american benefits counsel. am
some will argue we need for deficit reduction purposes. we need to load the about that outcome is spending on health care, so this is an important deficit reduction policy. but i would ask you, is the right of this group of people, 65- and 66-year olds, bearing the very large costs. is this the group you think should be bearing huge parts? i would argue this is not a particularly fair shared version of this group of people to be sharing 10% of their income in addition to growing health care...
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Dec 27, 2012
12/12
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FOXNEWSW
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we have had 1.422, 1.29 and on the way to another trillion dollars deficit for these years. what the president is proposing is not pragmatic whatsoever and really is a reflection of him i suppose living in a fantasy world. >> what do you think the deal that speaker boehner offered the president? >> well, i was against the plan b because i don't see this as being a tax revenue increase issue. most important is spending. we could georgia back -- go back to the simpson bowles commission. the most important thing, we have to deal with spending. we live in an america where the federal government now is spending 25% of our gross domestic product. when you study the obama budget that would increase to 32%. that's where the problem has to i am emanate from. the spending side of our budget is 62% of what we spend money on. it's not just about defense or discretionary. >> is there any indication the president's deal, that he may come back with, will address spending? i haven't heard substantial spending cuts out of any deals on the left. >> absolutely you are not hearing that whatsoev
we have had 1.422, 1.29 and on the way to another trillion dollars deficit for these years. what the president is proposing is not pragmatic whatsoever and really is a reflection of him i suppose living in a fantasy world. >> what do you think the deal that speaker boehner offered the president? >> well, i was against the plan b because i don't see this as being a tax revenue increase issue. most important is spending. we could georgia back -- go back to the simpson bowles...
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Dec 27, 2012
12/12
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finance our deficits. and this is precisely how it worked. and the trouble was -- and if you want to understand exactly how the capital gains profits were attracted to the united states -- there are some key elements. one was, the commiseration of blue-collar workers in the united states. there were some key elements. one was the proliferation of states. that kept prices low. even with the oil crisis, prices in the united states rose more slowly than they did in japan or europe. so, if you were japanese or german, the profits, where do you invest them? where do you keep them? you keep them with the low inflation rate. that is one reason. one mechanism that helps attract the capital from the rest of the world and close the loop. wall street was another. it has an amazing capacity to create a metaphysical value out of nothing. walmart was another. is promoted the ideology of cheapness, which was calculated -- encapsulated so brilliantly. nobody needs a gallon of pickles. i don't think it fits in a fridge. wh
finance our deficits. and this is precisely how it worked. and the trouble was -- and if you want to understand exactly how the capital gains profits were attracted to the united states -- there are some key elements. one was, the commiseration of blue-collar workers in the united states. there were some key elements. one was the proliferation of states. that kept prices low. even with the oil crisis, prices in the united states rose more slowly than they did in japan or europe. so, if you were...
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Dec 23, 2012
12/12
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he was a deficit hawk, boy, we could use him today, who controlled government spending and taxes. the famous speech warning against the industrial complex was at the end of the presidency, but worked on it all along behind the scenes. heaven help us he liked to say when we get a president who knows less about the military than i do. it was not about the economy or saving money. in the berlin crisis and earlier crisis with korea and vietnam in 1953 over the strait in 1954-55 and 1958 in the suez crisis in 1956, he was planning a bigger gain for higher stakes. west point cadet and young army officer, ike was a great poker player, and, indeed, so good, he had to give it up. he was taking too much money from the fellow officers hurting his career. he switched to bridge, but he never forgot how to bluff. the soviets, he bluffed with nuclear weapons. as only a real warrior can, ike hated war. curiously, the great war hero was never in combat. in world war i, he was training troops to his great chagrin, and world war ii, he was too valuable and knew too much to risk getting captured or k
he was a deficit hawk, boy, we could use him today, who controlled government spending and taxes. the famous speech warning against the industrial complex was at the end of the presidency, but worked on it all along behind the scenes. heaven help us he liked to say when we get a president who knows less about the military than i do. it was not about the economy or saving money. in the berlin crisis and earlier crisis with korea and vietnam in 1953 over the strait in 1954-55 and 1958 in the suez...
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Dec 28, 2012
12/12
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FBC
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it's about getting the economy on track and also getting the deficit under control. adam: you are a moderate, highly popular in the state of north dakota, and you have compromised with both sides on these issues, but the vast majority of the public looks at congress, all of you, the house of representatives and the senate looking at you guys with disgust. is that coming across in the halls of the capitol? do the people there understand what the people out here, the 310 million of us consider when we think about the political leadership? >> i think that is absolutely what's pushing the negotiation why we have to stay at it. as i said a minute ago, i'm in the camp where we have to continue to push until we get the job done. i'd like the big deal now. if we don't get the deal, get as much as we can and continue to go after the things we're talking about, the reforms and the savings, that we need. adam: senator, we appreciate you being with us here on fox business. while president obama and the congressional leaders work or appear to work to try and come up with a fiscal
it's about getting the economy on track and also getting the deficit under control. adam: you are a moderate, highly popular in the state of north dakota, and you have compromised with both sides on these issues, but the vast majority of the public looks at congress, all of you, the house of representatives and the senate looking at you guys with disgust. is that coming across in the halls of the capitol? do the people there understand what the people out here, the 310 million of us consider...
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Dec 28, 2012
12/12
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FBC
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when you think about it, the deficits cast, over a trillion dollars for e next four years. freckly this will add $80 billion a year. it is nonsense. it is a parody of reality, and the bld is not responsible about their duty is being fiscal managers for the united states. when you think about that, $20 trillion in four years. if you paid off a dollar a second you're talking about 670,000 years to pay is tough. the response is impractical, and when you look at the biggess growth which is entitlements and think about the dynamic shift in the demographics, people are geing older, livi longer, the costs attributed to that with less workers, our population is not growing at much to mike catastrophic. if they don't do something realistic to curb spending problem. lou: as of tonight it looks like there is nothing ealistic going on in washington d.c. imagine that. it is s money and where it goes. you heard me talk for years about importae of our middle class and respect for those who work. no matter what the job. next, a terrific author wse new book celebrates the workers of what sh
when you think about it, the deficits cast, over a trillion dollars for e next four years. freckly this will add $80 billion a year. it is nonsense. it is a parody of reality, and the bld is not responsible about their duty is being fiscal managers for the united states. when you think about that, $20 trillion in four years. if you paid off a dollar a second you're talking about 670,000 years to pay is tough. the response is impractical, and when you look at the biggess growth which is...
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Dec 27, 2012
12/12
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eye 114
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finance our deficits. and this is precisely how it worked. and the trouble was -- and if you want to understand exactly how the capital gains profits were attracted to the united states -- there are some key elements. there were some key elements. one was the proliferation of blue-collar workers in united states. that kept prices low. even with the oil crisis, prices in the united states rose more slowly than they did in japan or europe. so, if you were japanese or german, the profits, where do you invest them? where do you keep them? you keep them with the low inflation rate. that is one reason. one mechanism that helps attract the capital from the rest of the world and close the loop. wall street was another. it has an amazing capacity to create a metaphysical value out of nothing. walmart was another. is promoted the ideology of cheapness, which was calculated so brilliantly. nobody needs a gallon of pickles. i don't think it fits in a fridge. why was walmart producing it? i think it was a symbolic gest
finance our deficits. and this is precisely how it worked. and the trouble was -- and if you want to understand exactly how the capital gains profits were attracted to the united states -- there are some key elements. there were some key elements. one was the proliferation of blue-collar workers in united states. that kept prices low. even with the oil crisis, prices in the united states rose more slowly than they did in japan or europe. so, if you were japanese or german, the profits, where do...
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Dec 23, 2012
12/12
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eye 143
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he was a deficit hawk. he controlled government spending and package. his famous speech warning against military-industrial complex came at the end of his presidency but, in fact, he been working on it all a long. mostly behind the scenes. heaven help us, he liked to say, that we'll get a president who knows less about the military than i do. this approach to the military was not just about the economy. in the berlin crisis in 58-59 and in early crisis with korea and vietnam in 1953, 54, the almost straight, the suez crisis in 1956, eisenhower was playing a bigger game for higher stakes. a west point cadet and a young army officer, ike had been a great poker player. indeed, he was so good that he had to give it up. he was taking too much money from his fellow officers and it was hurting his career. he switched to bridge, but he never forgot how to block it with the soviets he bluffed with nuclear weapons. as only a real warrior can, ike hated war. seriously, the great war hero had never been in combat. in world war i had been stateside training troops t
he was a deficit hawk. he controlled government spending and package. his famous speech warning against military-industrial complex came at the end of his presidency but, in fact, he been working on it all a long. mostly behind the scenes. heaven help us, he liked to say, that we'll get a president who knows less about the military than i do. this approach to the military was not just about the economy. in the berlin crisis in 58-59 and in early crisis with korea and vietnam in 1953, 54, the...
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Dec 29, 2012
12/12
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but since everyone understands if you are serious about the deficits and the debt you don't begin our program they've and imagine how you are going to sort of put that together in the end. and so, i think that is a sort of fundamental difference. democrats are protective, and therefore their political incentives are to play the same hardball with permanent campaign hardball, they are not prepared to put at risk the full faith and credit of the united states. they are not prepared to shut the government down. they just won't do that because they believe the government plays an important role. conservatives, real conservatives want the government that they have, and not a bit more that they need, but they are not wild and crazy about just dumping on that. and i think we have -- it is almost a radical perspective, not a conservative perspective. again, it is one that is much more protective of the government, and i think the difference is real. >> i want to threw out a theory we may not want to go after the hash tag triet 1 feet. it's all bill clinton's be fivefold, and starting in the 1
but since everyone understands if you are serious about the deficits and the debt you don't begin our program they've and imagine how you are going to sort of put that together in the end. and so, i think that is a sort of fundamental difference. democrats are protective, and therefore their political incentives are to play the same hardball with permanent campaign hardball, they are not prepared to put at risk the full faith and credit of the united states. they are not prepared to shut the...
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Dec 29, 2012
12/12
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that is to say the expiration of the tax cuts pretty much take care of our intermediate deficit problem and implementation of the cost saving measures strengthened over time in the aca will deal with their long-term health care problem. so we are not that far away and we have other tremendous strengths in our country that would allow us to make the kind of investment to transform the economy, to do with the reality of stagnant wages and a sense of diminished opportunities. we have strengths. we can do it. we need the public to rain and behavior that's destructive and we need political leaders to act forcefully. given enough to bipartisan commissions and searched enough for bipartisan consensus. for sensible hard all politics along these lines. >> norm, i particularly cutie take the money question. a couple political had a great shared that showed that party polarization in congress was directly correlated with increasing concentrations of wealth from increasing equality went together artisan polarization. and the money question you can handle so many different ways. i'm really concerned
that is to say the expiration of the tax cuts pretty much take care of our intermediate deficit problem and implementation of the cost saving measures strengthened over time in the aca will deal with their long-term health care problem. so we are not that far away and we have other tremendous strengths in our country that would allow us to make the kind of investment to transform the economy, to do with the reality of stagnant wages and a sense of diminished opportunities. we have strengths. we...
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Dec 28, 2012
12/12
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we need cuts and deal with the deficit. you have can't do this in a way to do in a sudden flash. >> juan -- >> juan: hold on. excuse me. do you think republicans have no complicity in passing two wars without funding them? and passing prescription drugs, no funding -- >> andrea: last time i checked a majority of democrats voted if for war. >> juan: republicans voted for this as well is all my point. >> andrea: entitlement, they're not miles apart? >> juan: they're not. >> andrea: what is the plan. >> juan: put on the table change the cpi and change the rate of growth. >> what table? >> eric: slow the rate of growth is not a cut. >> juan: it is. >> eric: it's not. >> juan: even boehner says it's a cut. the left thinks it's a cut. secondly, the president has -- go up to 400 if you want. so what we are talking about is a cut for 99% of americans. they keep tax cuts. you think republicans would celebrate. >> drinking the kool-aid. >> eric: i agree with you that the republicans are no better in this debate. >> juan: oh, well the
we need cuts and deal with the deficit. you have can't do this in a way to do in a sudden flash. >> juan -- >> juan: hold on. excuse me. do you think republicans have no complicity in passing two wars without funding them? and passing prescription drugs, no funding -- >> andrea: last time i checked a majority of democrats voted if for war. >> juan: republicans voted for this as well is all my point. >> andrea: entitlement, they're not miles apart? >> juan:...
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Dec 27, 2012
12/12
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the market will turn to a deficit in 2013 on increasing demand in the auto industry where palladium is used in exhaust systems for cars. combined with decreasing global supply, especially in south africa and russia, which control a number of the world's palladium mines, a rally that began in earnest in 2012 will go into overdrive in the new year. >>> all right. so then how should you play commodities next year? let us bring in rbc's george gero with his take on gold, silver and copper, and andy lit li lithbm. silver kicked butt. will it do so next year? >> i think so. i'm wearing my silver bullish cuff links if you notice that. i think this is the year for silver. silver is a bridge between investment demand and industrial demand and this year i think we're going to have both. >> how high do you see silver going, george? give us a number. >> i can't give you a specific number, but i'll give you a range of somewhere between oh, 40 to $45. >> okay. and that's your number one pick for next year, george. andy, you're over in the energy patch. what do you see for crude, gnna gas and for wha
the market will turn to a deficit in 2013 on increasing demand in the auto industry where palladium is used in exhaust systems for cars. combined with decreasing global supply, especially in south africa and russia, which control a number of the world's palladium mines, a rally that began in earnest in 2012 will go into overdrive in the new year. >>> all right. so then how should you play commodities next year? let us bring in rbc's george gero with his take on gold, silver and copper,...
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Dec 28, 2012
12/12
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insurance is still available for 2 million people, and that lays the groundwork then for additional deficit reduction and economic growth steps that we can take in the new year. but let's not miss this deadline. that's the bare minimum that we should be able to get done. it shouldn't be that hard since democrats and republicans both say they don't want to see taxes go up on middle-class families. i just have to repeat, outside of washington, nobody understands how it is that this seems to be a repeat pattern over and over again. ordinary folks, they do their jobs. they meet deadlines. they sit down, and they discuss things and then things happen. if there are disagreements, they sort through the disagreements. the notion that our elected leadership can't do the same thing is mind boggling to them. and needs to stop. so i'm modestly optimistic that an agreement can be achieved. nobody is going to get 100%, but let's make sure that middle- class families in the american economy and the world economy aren't adversely impacted because people can't do their jobs. thank you very much, everybody.
insurance is still available for 2 million people, and that lays the groundwork then for additional deficit reduction and economic growth steps that we can take in the new year. but let's not miss this deadline. that's the bare minimum that we should be able to get done. it shouldn't be that hard since democrats and republicans both say they don't want to see taxes go up on middle-class families. i just have to repeat, outside of washington, nobody understands how it is that this seems to be a...
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Dec 30, 2012
12/12
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you know, any deal will likely not address the deficit. so what we can expect from lawmakers, after the deadline is over. we will take a look at that. >> heather: a few more arguments. russian president vladimir putin is putting adoptions on hold for american families, like this boy, four years old. his future is on hoild because the president of russia says so. what his american abts adoptive parents have to say to putin. i have a cold, and i took nyquil, but i'm still stubbed up. [ male announcer ] truth is, nyquil doesn't unstuff your nose. what? [ male announcer ] alka-seltzer plus liquid gels speeds relief to your worst cold symptoms plus has a decongestant for your stuffy nose. thanks. that's the cold truth! mine was earned off vietnam in 1968. over the south pacific in 1943. i got mine in iraq, 2003. usaa auto insurance is often handed down from generation to generation. because offers a superior level of protection, and because usaa's commitment to serve the military, veterans and their families is without equal. begin your legacy,
you know, any deal will likely not address the deficit. so what we can expect from lawmakers, after the deadline is over. we will take a look at that. >> heather: a few more arguments. russian president vladimir putin is putting adoptions on hold for american families, like this boy, four years old. his future is on hoild because the president of russia says so. what his american abts adoptive parents have to say to putin. i have a cold, and i took nyquil, but i'm still stubbed up. [ male...
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Dec 28, 2012
12/12
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we have a $16 trillion deficit right now. we have the deficit because of social security, medicaid, medicare, welfare, food stamps -- all policies put into effect by the democratic party. everything is socialism. thomas jefferson said it best -- the republic is doomed. people sacrifice -- i'm a libertarian. i am more objective. i'm not a republican or democrats. i have to wonder if i want to live in this country. 29% of americans got some kind of assistance when ronald reagan was president. i have to consider and i'm considering moving to a tropical island and watching america go down the drain. we need to abolish social security, medicare, and medicaid. host: i will stop you there. we appreciate your thoughts. joseph says -- will go back to stay but by the president on the passing of norman schwarzkopf. host: "his legacy will e ndure." back to your calls. caller: good morning. god bless us. [indiscernible] where is the love? .e're at a church when the president and everybody was running. the church was all over the program.
we have a $16 trillion deficit right now. we have the deficit because of social security, medicaid, medicare, welfare, food stamps -- all policies put into effect by the democratic party. everything is socialism. thomas jefferson said it best -- the republic is doomed. people sacrifice -- i'm a libertarian. i am more objective. i'm not a republican or democrats. i have to wonder if i want to live in this country. 29% of americans got some kind of assistance when ronald reagan was president. i...
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Dec 30, 2012
12/12
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MSNBCW
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it would have an impact on the deficit. the president and democrats said they would like to have more deficit reduction but they don't want middle income seniors paying for that. it's a tough, tough point. the president said he would be open to entitlement changes in a bigger, broader deal. that's not what this was intended to be in the last 48 hours or so. i don't have a crystal ball. the moment we are in right now, it's not looking good. >> kelly o'donnell, live on capitol hill. we will check back in with you. thank you so much. again, the update, the highlight there from kelly o'donnell. there's been a major setback at this point in negotiations. according to democratic sources telling some democrats they are in a worse place in the negotiations now than they have been in some time. we're keeping a close eye on capitol hill. all the fiscal cliff business, maybe we put it aside at some point. we are not going to talk about that. by all accounts, 2013 should be a year of economic recovery. it should be. in a new article in
it would have an impact on the deficit. the president and democrats said they would like to have more deficit reduction but they don't want middle income seniors paying for that. it's a tough, tough point. the president said he would be open to entitlement changes in a bigger, broader deal. that's not what this was intended to be in the last 48 hours or so. i don't have a crystal ball. the moment we are in right now, it's not looking good. >> kelly o'donnell, live on capitol hill. we will...
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the country managed to avoid bailout so far, but will not meet its deficit target for the full year. do you think spain should be given more time? >> well, first of all, i think that, again, spain is going in the right direction. when you look at the current account, the deficit, you see that it had been diminished massively since the peak that they had in 2008, 2009. and, you know, as a very short summing up, it's been divided by more than five, though it's very, very encouraging. on the other hand, you have unit labor costs which have been diminishing quite a lot and the exports of spain are very dynamic today. so it also demonstrates that hard work is being done. it's difficult. it's tough, but going in the right direction. i trust that the global observers are observing progressively and the adjustment is proceed. in spain and in all the countries that are under adjustment. >> now, lonmin's ceo ian farmer is stepping down while being treated for a serious illness after being first admitted to hospital back in august. the south african miner says it's already appointed an executiv
the country managed to avoid bailout so far, but will not meet its deficit target for the full year. do you think spain should be given more time? >> well, first of all, i think that, again, spain is going in the right direction. when you look at the current account, the deficit, you see that it had been diminished massively since the peak that they had in 2008, 2009. and, you know, as a very short summing up, it's been divided by more than five, though it's very, very encouraging. on the...
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and that would still leave an $800 billion deficit. we can not tax away the deficit. gregg: sure we can. we can do the value-added tax. >> well, and that's what worries me. if we don't cut spending, spending right now, the federal government is the largest it has ever been as a share of our economy. it takes up more of our economy than ever, the only way to pay for it is to put in a european-style value-added tax. which means every american, everyone, the lower income, the middle income, the high income, would pay, say 20% on every item they purchase, every item, to the federal government. that is what the europeans do to afford these big governments. gregg: what would it do? >> say that again? gregg: what would it do? >> that, that what would happen is, we were turn into europe. we all see it. we see greece, and spain and italy, and france. they all grow slow of the they have extremely high unemployment rates. we would have a slow economy and high unemployment forever if we taxed ourselves like that. gregg: all right. >> this idea that somehow you can't tax the middl
and that would still leave an $800 billion deficit. we can not tax away the deficit. gregg: sure we can. we can do the value-added tax. >> well, and that's what worries me. if we don't cut spending, spending right now, the federal government is the largest it has ever been as a share of our economy. it takes up more of our economy than ever, the only way to pay for it is to put in a european-style value-added tax. which means every american, everyone, the lower income, the middle income,...
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theses why we're getting massive deficits today. we have never had anything like this without a major war. you can rightly wrap the knuckles of george bush, but that does not excuse president obama for what he has done. democrats and republicans share blame for what happened with the federal reserve, not calling them to read and counto account. even though i am a republican, i am for candidates who do those things. host: c-span democrat tweets in, which your flat tax treat capital gains as income? guest: my proposal would not. if you get the rate low enough, that would be a compromise i would be happy to make. that is a kind of conversation we should be having, how we get the rate as low as possible. if you get that very low rate, i will be a supporter of it. host: independence day tweets in, are you telling us you will stop investing if capital gains rate goes up to equal the ordinary income rate? guest: it is not a matter what we do in our own business, media has gone through a real convulsion. in terms of when you make an investm
theses why we're getting massive deficits today. we have never had anything like this without a major war. you can rightly wrap the knuckles of george bush, but that does not excuse president obama for what he has done. democrats and republicans share blame for what happened with the federal reserve, not calling them to read and counto account. even though i am a republican, i am for candidates who do those things. host: c-span democrat tweets in, which your flat tax treat capital gains as...
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they say they want deficit reduction. if you go over the cliff, you get deficit reduction, you just don't get it in the responsible, accountable way. it's like chopping off on arm. >> like says i want a shower, i'm going to niagra falls. >> they still can't get it done. we're dysfunctional. no other explanation. >> i think they can stop the roller coaster and make it go. they're doing a dance now because republicans don't want to do something to rates. obama wants to play hardball. but i think they'll have a different argument later in the year. >> i guess both believe it's better to go over the falls than cut a deal that's going to hurt them at home. tea party people don't respond to boehner or to cantor or mccarthy or any of them. somebody in the next tea party is going to be yelling from the back, you sold us out. i think that's why the tea party is never going to be functional. they don't really respond to getting things done. they respond to anger back home. >> i think 2014 democrats are also aware of these tax incre
they say they want deficit reduction. if you go over the cliff, you get deficit reduction, you just don't get it in the responsible, accountable way. it's like chopping off on arm. >> like says i want a shower, i'm going to niagra falls. >> they still can't get it done. we're dysfunctional. no other explanation. >> i think they can stop the roller coaster and make it go. they're doing a dance now because republicans don't want to do something to rates. obama wants to play...
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they did not show as a deficit. while the budgets looked reasonable during that time, the actual spending was greater. people did not pay as much attention to the debt. it just kept mounting and growing. we borrowed to pay for the worse when we did not ask people to make sacrifices financially. there is a difference between borrowing in the future, pang forward and backwards, or having to pay right now. people might have felt differently if they had felt a pinch right at the time. they would have asked different questions than were asked. that is one of the reasons we got where we are. >> could you have been any more vocal about appropriations? >> i was vocal. when i got on the appropriations committee, i became chairman of the legislative branch. that is everything, all of the buildings. office buildings, 1700 capitol police forces, and all of their help, support staff. i held the growth flat. then we cut it by almost 5%. this time around, we let it grow a little bit higher. protect the dome so it did not fall in.
they did not show as a deficit. while the budgets looked reasonable during that time, the actual spending was greater. people did not pay as much attention to the debt. it just kept mounting and growing. we borrowed to pay for the worse when we did not ask people to make sacrifices financially. there is a difference between borrowing in the future, pang forward and backwards, or having to pay right now. people might have felt differently if they had felt a pinch right at the time. they would...
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the budget deficit the fiscal crisis to the extent that it exists although granted a lot of corporations are sitting on their capital they're not investing in r. and b. so one necessity for supporting manufacturing is to have things like democratic firms and cooperatives and alternative banks that we move our money and so we need a synergy between people moving their money into these production platforms to get the high paid jobs that we need all right jonathan feldman we are out of time thanks so much for being on the kaiser report. thank you for having me it was a pleasure all right now going to do it for this edition of the kaiser report with me max kaiser and stacey however my guest jonathan feldman if you had to send me an e-mail please do so at kaiser reported r t t v dot are you like some ask them but you know. he is easy. it's easy. to meet. folks. you know sometimes you see a story and it seems so for langley you think you understand it and then you glimpse something else you hear or see some other part of it and realized everything you thought you knew you don't know i'm tom ha
the budget deficit the fiscal crisis to the extent that it exists although granted a lot of corporations are sitting on their capital they're not investing in r. and b. so one necessity for supporting manufacturing is to have things like democratic firms and cooperatives and alternative banks that we move our money and so we need a synergy between people moving their money into these production platforms to get the high paid jobs that we need all right jonathan feldman we are out of time thanks...
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not even close to fixing the deficit snding. still adding to the debt under republican and democrat programs >> this kind of class warfare rhetoric is serving a purpose. the reality is the proposed tax increases will fund the federal government for approximaely eight days. it might make people feel good and that's a reason to pass it. frankly, i don't hear any politicians talking reality but thfiscal problems facing the country which is democrat or republican. tom: do you have any hope that the blame game can be put aside so they can get some work done? in the private sector these people would be fired. >> absolutely. this is a do nothing congress, the least active in four years when it comes to policy making, and the reason we are here is that the delay decisions for the past two years. i do think that something will happen because if it doesn't the consequences will be so severe in the next year again over 9 percent unemployment and a significant slowdown in an already slow econo. tom: but the blame game, who is going to get t
not even close to fixing the deficit snding. still adding to the debt under republican and democrat programs >> this kind of class warfare rhetoric is serving a purpose. the reality is the proposed tax increases will fund the federal government for approximaely eight days. it might make people feel good and that's a reason to pass it. frankly, i don't hear any politicians talking reality but thfiscal problems facing the country which is democrat or republican. tom: do you have any hope...
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and who is going to pay for the deficit? if i have an ever-expanding deficit, the bank tells me it is came over. -- game over. but if you are the united states of america and there are certain -- and you have the reserve currency of the world, and certain other factors that i will touch upon later, what you can do is you can expand your deficit as long as you create the circumstances so that german entrepreneurs, later chinese, take their profit, which they earned and they send it to wall street. thus closing the cycle, the recycling loop. so, effectively what we have between 1940's and 1971, 1973, you had global surpluses being recycled from united states to the rest of the world. the capitalist world. the western world. ok? so, the united states was an exporter to europe and japan. it was making profits. it was then recycling to europe and japan. so they would keep on buying. once the surplus shifted to japan, germany, and china, the idea that volcker had was a we will swap this. we will just turn it on its head. we will e
and who is going to pay for the deficit? if i have an ever-expanding deficit, the bank tells me it is came over. -- game over. but if you are the united states of america and there are certain -- and you have the reserve currency of the world, and certain other factors that i will touch upon later, what you can do is you can expand your deficit as long as you create the circumstances so that german entrepreneurs, later chinese, take their profit, which they earned and they send it to wall...
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insurance is still available for 2 million people, and that lays the groundwork then for additional deficit reduction and economic growth steps that we can take in the new year. >> joining us now from capitol hill. south dakota republican senator john thune, a member of the budget committee. so, senator, what do you make of the president's plan? >> i'm just glad the president is engaged. you can't do big things in washington, d.c. without presidential leadership. that's what we haven't had. the fact that he is now owe table. better late than never i would argue. at least he is at the table presenting something that will give us a chance hopefully to get some bipartisan support in the senate and perhaps get something to the house that will avert what everybody agrees is a major economic disaster. but we're still waiting for the details and obviously there is a long ways to go and this is a very -- there is going to be a tough needle to thread in order to get this done. >> see, i don't understand why the democrats think that this is an economic disaster going off the cliff since really it's j
insurance is still available for 2 million people, and that lays the groundwork then for additional deficit reduction and economic growth steps that we can take in the new year. >> joining us now from capitol hill. south dakota republican senator john thune, a member of the budget committee. so, senator, what do you make of the president's plan? >> i'm just glad the president is engaged. you can't do big things in washington, d.c. without presidential leadership. that's what we...
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are you going to pay down the deficit? if you are going to use it for more government spending we don't want a part of it. senator mcconnell on the republican side seemed to get frustrated because he felt like the democrats were slow walking the th, 18 hours without a response. mcconnell made a call to a well known senator, joe biden to see if he could help. >> we're willing to work with whoever can help. no single issue remains an impossible sticking point. a sticking point appears to be a willingness and interest or frankly the courage to close the deal. >> reporter: as senate aide says it was designed to try to jumpstart the talks and consequences of getting a tax increase is a huge concern. >> gregg: what went awry in these talks? >> you heard senator thune. a fiscal cliff deal is a new way calculating inflation that would lower social security payments. democrats say they would do it as part of much bigger deal but it was off the table for the smaller deal they are working on. so democrats called it a poison pill. >>
are you going to pay down the deficit? if you are going to use it for more government spending we don't want a part of it. senator mcconnell on the republican side seemed to get frustrated because he felt like the democrats were slow walking the th, 18 hours without a response. mcconnell made a call to a well known senator, joe biden to see if he could help. >> we're willing to work with whoever can help. no single issue remains an impossible sticking point. a sticking point appears to be...
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still looking at trillion-dollar deficit. that just goes to show spending cuts. right now we don't have them. talks about them and there is accounting fuzzy math going on but there is not any serious entitlement reform. we can't just wait and talk about that in january. needs to be included in any package before we go forward. >> you know, juan, the point she is making when we talk about spending cuts. basically a guy pulling the olives off a meat lover's pizza and saying he is on a diet. something so incidental and ignoring this huge huge problem this black hole that is spending. it's true. we are going nowhere. >> no, i disagree. you know what? >> you like picking the olives off. that's you and spending cuts. >> not only that i like it when the an chofs because then getting lot of antioxidants with my pizza and i feel good about eating the pizza even though i'm bloated. when you look at the reality. alice says the president hasn't put any spending on the table. wrong, the president has left wing face furious with him, alice, because he said we will will put the
still looking at trillion-dollar deficit. that just goes to show spending cuts. right now we don't have them. talks about them and there is accounting fuzzy math going on but there is not any serious entitlement reform. we can't just wait and talk about that in january. needs to be included in any package before we go forward. >> you know, juan, the point she is making when we talk about spending cuts. basically a guy pulling the olives off a meat lover's pizza and saying he is on a diet....
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several years ago meeting with speaker pelosi, the twin deficit the job and the budget deficit. lori: we don't hear that. we have breaking news. urinalysis is a fascinating. deschutes your analysis is fascinating we want to have you back again. tracy: and 14 major ports that are being threatened to be shut down. we will get the latest. lori: also confidence in the global economy is higher suggesting people are picking up more security. we are back after this. she keeps you guessing. it's part of what you love about her. but your erectile dysfunction - you know, that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask if your heart is healthy enough for sexual activity. do not take cialis if you take nitrates for chest pain, ashis may cause an unsafe drop in bl
several years ago meeting with speaker pelosi, the twin deficit the job and the budget deficit. lori: we don't hear that. we have breaking news. urinalysis is a fascinating. deschutes your analysis is fascinating we want to have you back again. tracy: and 14 major ports that are being threatened to be shut down. we will get the latest. lori: also confidence in the global economy is higher suggesting people are picking up more security. we are back after this. she keeps you guessing. it's part...
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the eu is giving madrid more time to get its deficits in line. reductions in health spending are only part of the total to save, but the symbolic value of cutting medical care is great, and so is public anger. >> the son of pakistan's former prime minister has made his first political address. he told party supporters that he would carry forward his mother's legacy, saying that she had sacrificed her life for democracy. benazir bhutto was killed in a gun and bomb attack during her 2007 campaign. >> in student was brutally gang rape on a bus earlier this month, and the prime minister promised to review rape laws and punishments. demonstrators again took to the streets today, calling on the chief of the police department to step down. the government has also ordered an inquiry into the police handling of the case. meanwhile, the young woman whose case sparked the protests has flown to singapore for treatment. her situation remains critical. and internet where there are no political restrictions or government fire walls and were free discussion is t
the eu is giving madrid more time to get its deficits in line. reductions in health spending are only part of the total to save, but the symbolic value of cutting medical care is great, and so is public anger. >> the son of pakistan's former prime minister has made his first political address. he told party supporters that he would carry forward his mother's legacy, saying that she had sacrificed her life for democracy. benazir bhutto was killed in a gun and bomb attack during her 2007...
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americans looking for a job, and lays the ground work for future progress on more economic growth and deficit reduction. >> republicans say they want a deal as well, but they highlighted their biggest sticking points today in their weekly address. listen now to missouri senator roy blount. >> senate democrats have spent months drawing partisan lines in the sand. the president's proposal to raise tax on the top 2% of americans won't even pay one-third of the annual interest that's now owed on this massive $16 trillion debt. in fact, the president's tax hike would only fund the government for eight days. >> the senate is set to reconvene sunday at 1:00 eastern time. the house expected to be in session sunday. are going to start around 2:00 with the first votes coming around 6:30 p.m. let's head on over to the white house. kristen welker standing by. a lot happening in washington, d.c. a lot happening i would assume at the white house. but how engaged is the presidented to in moving this thing forward? >> reporter: good afternoon, t.j. i am told there are conversations going on at the staff leve
americans looking for a job, and lays the ground work for future progress on more economic growth and deficit reduction. >> republicans say they want a deal as well, but they highlighted their biggest sticking points today in their weekly address. listen now to missouri senator roy blount. >> senate democrats have spent months drawing partisan lines in the sand. the president's proposal to raise tax on the top 2% of americans won't even pay one-third of the annual interest that's...
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produced no results if the republicans and democrats fail to reach a deal on how to reduce the national deficit tax hikes and spending cuts worth billions of dollars in mass we take effect on journey the first another round of talks is saturday barack obama is already considering an emergency bill for the workers and the army if agreement is not reached before the deadline. the six men involved in the gang rape of a student in india i mean charged with murder just hours after a victim died in a hospital if convicted all could face the death penalty in the case sparked protest in new delhi if you're for it is resorting to banning mass gatherings in parts of the city people still joining to express their anger and sorrow and demanding extreme measures to keep the streets safe. the newly elected prime minister has taken a tour of the fukushima nuclear plant which was devastated by a massive tsunami last year wearing a protective suit to be inspected the complex and admitted that dealing with a fall that is an unprecedented challenge the previous democrat led government plan to scrap the use of nuc
produced no results if the republicans and democrats fail to reach a deal on how to reduce the national deficit tax hikes and spending cuts worth billions of dollars in mass we take effect on journey the first another round of talks is saturday barack obama is already considering an emergency bill for the workers and the army if agreement is not reached before the deadline. the six men involved in the gang rape of a student in india i mean charged with murder just hours after a victim died in a...
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the budget deficit the fiscal crisis to the extent that it exists although granted a lot of corporations are sitting on their capital they're not investing in r. and b. so one necessity for supporting manufacturing is to have things like democratic firms and cooperatives and alternative banks that we move our money and so we need the synergy between people moving their money into these production platforms to get the high paid jobs that we need all right jonathan feldman we are out of time thanks so much for being on the kaiser report. thank you for having me it was a pleasure all right now going to do it for this edition of the kaiser report with me max kaiser and stacy herbert or thought my guest jonathan feldman if you had to send me an e-mail please do so at kaiser reported r t t v dot ru the next time i ask a bio. i live i. could speak. with. a long. run i mean very little. choose your language. surely we can we know if you're going to. choose the consensus to. choose the opinions that you figure a couple. choose to stories get him to. choose access to your office. divine power in a
the budget deficit the fiscal crisis to the extent that it exists although granted a lot of corporations are sitting on their capital they're not investing in r. and b. so one necessity for supporting manufacturing is to have things like democratic firms and cooperatives and alternative banks that we move our money and so we need the synergy between people moving their money into these production platforms to get the high paid jobs that we need all right jonathan feldman we are out of time...
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if we have normal economy we would have 500 billion more in revenue today which would cut the deficit by 40 or 50%. that does it. >> what is the most we can hope for from these guys? they will work over the new year's holiday. i know what you want. you want a flat tax. i know your wish-list but what is the best we can hope for? >> best we can hope for they all realize they will all get the blame. for once, kick the can down the road. you will not reform the tax code in 72 hours between now and new year's. entitle manlts and everything else. put it off for 60 days. begin to do real reformation of the tax code. to allow us to go off the fiscal cliff is preposterous. david: when you say a 60-day hold does that mean the president, the president says we should at least make sure taxes for those making under $200,000 doesn't go up but everybody else's taxes should go up. >> they should put everything off 60 to 90 days and sit down after new year's and say how we get the economy moving again? i think it will be clear early next year we're starting to slow down. republicans should hammer home
if we have normal economy we would have 500 billion more in revenue today which would cut the deficit by 40 or 50%. that does it. >> what is the most we can hope for from these guys? they will work over the new year's holiday. i know what you want. you want a flat tax. i know your wish-list but what is the best we can hope for? >> best we can hope for they all realize they will all get the blame. for once, kick the can down the road. you will not reform the tax code in 72 hours...
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tom: will that tax solve the deficit spending? >> it will if you include 2%, 250,000 for couples, 200,000 for individuals and above. you start taxing capital gans and dividends, reinstate that and get rid of $10 billion in corporate taxes every year. you're looking it over $300 billion. ." tom: upside-down by trillion closet -- a trillion dollars. not even close to fixing the deficit spending. still adding to the debt under republican and democrat programs >> this kind of class warfare rhetoric is serving a purpose. the reality is the proposed tax increases will fund the federal government for approximately eight days. it might make people feel good and that's a reason to pass it. frankly, i don't hear any politicians talking reality but the fiscal problems facing the country which is democrat or republican. tom: do you have any hope that the blame game can be put aside so they can get some work done? in the private sector these people would be fired. >> absolutely. this is a do nothing congress, the least active in four years whe
tom: will that tax solve the deficit spending? >> it will if you include 2%, 250,000 for couples, 200,000 for individuals and above. you start taxing capital gans and dividends, reinstate that and get rid of $10 billion in corporate taxes every year. you're looking it over $300 billion. ." tom: upside-down by trillion closet -- a trillion dollars. not even close to fixing the deficit spending. still adding to the debt under republican and democrat programs >> this kind of class...